How to buy PAX Gold (PAXG) in Australia

A beginner's guide to buying and selling PAXG in Australia.

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How to buy PAX Gold

Look for an exchange that supports both fiat and cryptocurrency to simplify buying PAX Gold.

  1. Open an account on an exchange that supports PAXG.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy PAX Gold.
  3. Buy PAX Gold.
    Complete your PAX Gold purchase and then find the best wallet to store PAXG.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is PAX Gold?

As the name implies, PAX Gold, or PAXG, is a commodity-based stablecoin that is backed by physical gold. It is issued by New York-based fintech firm Paxos. Just like some USD stablecoins, such as Tether USD, each PAXG token is backed by 1 fine troy ounce (t oz) of gold. The gold is maintained in a secure vault that is insured and maintained by Paxos. The asset was created to give investors seamless access to the gold market without the use of derivatives, such as ETFs or futures. The token was built using the Ethereum blockchain and conforms with the ERC20 standard. It can be used with any Ethereum-based application and stored within a personal cryptocurrency wallet just like other cryptocurrencies. At any time, each coin can be swapped for physical gold, as long as the redemption amount is above 1t oz. Although 1t oz is required when withdrawing funds, every PAXG token can be fractionalised and split into a whopping 18 decimal points.

PAX Gold (PAXG) is the 199th largest cryptocurrency in the world by market cap, valued at $316,119,151. The current price of PAX Gold is $1777.6, which is -0.548% lower than yesterday. Prices have ranged between $1798.79 and $1762.23 over the past 24 hours. All prices are listed in US dollars and accurate as of September 23, 2021 08:09 UTC.

Where to buy PAX Gold

Find an exchange to buy, sell and trade PAXG by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD, NZD

284
cryptocurrencies

Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

271
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

276
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

69
cryptocurrencies

FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
Easy Crypto Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi
AUD

53
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
Gemini Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, CAD, EUR, GBP, SGD, HKD

41
cryptocurrencies

Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

153
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
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PAX Gold at a glance

Information last updated September 23, 2021 08:09 UTC.
Coin symbolPAXG
Coin MarketcapUS$316,119,151
Total PAXG supply177,692
Circulating PAXG177,692
Current priceUS$1777.6
All time highUS$2,241.37

PAX Gold price performance over time

Historical prices compared with the price of US$1777.6.

1 hour -0.05%
24 hours -0.55%
7 days -1.35%
14 days -0.89%
30 days -1.47%
60 days -2.06%
200 days 3.51%
1 year -7.14%

How to sell PAX Gold

You can cash out your PAXG with the same exchange you bought it through:

  1. Sign in to the exchange you have PAXG on.
    If you store your PAX Gold in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of PAXG you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of PAX Gold.

What to consider when buying PAX Gold

Stablecoins, by design, are intended to be less volatile than ordinary cryptocurrencies. However, there are several aspects that should still be considered before investing. Some factors to consider before buying PAXG include:
  • Ease of storage: Unlike physical gold that can be difficult to store, especially when dealing with large quantities, PAXG can be stored easily within any Ethereum-compatible wallet.
  • Exposure to gold: As a gold-backed stablecoin the price of the token will mirror the price of gold exactly.
  • Superior to conventional offerings: When compared with regular trading products, PAXG tokens allow users instant exposure to the gold market. Users can redeem assets at any time for physical gold and own minute fractions of metal, something that was not possible before. PAXG also does not feature any holding fees as costs are levied by most centralised institutions.
  • Transparency: Unlike physical gold, where storage and accountability can sometimes be an issue, all PAXG tokens have their transfer, creation and redemption histories publicly available on the Ethereum network.
  • Flexible supply: All of the gold used to back PAXG tokens is maintained by Paxos in a secure reserve facility. Anytime physical gold is redeemed, a corresponding number of PAXG tokens are burned accordingly.
  • Centralised: Maintenance of the PAXG token rests solely in the hands of Paxos. If the system malfunctions or an audit finds that there is not enough physical gold to cover tokens, it may cause volatility in prices.

Disclaimer: Cryptocurrencies, including PAX Gold, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of PAXG is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the PAX Gold or any other cryptocurrency discussed.

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